Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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may we see blue today
7p would be a goog start
i see 100,000 and 150,000 buy are buying again
At 31 May 2018, the Group had an undrawn invoice discount facility with Barclays Bank of £3.0m which enables it to
borrow up to 65% of the debtor book in the UK. In addition to the facility with Barclays Bank, the Group entered into
an agreement with Wells Fargo Bank after the year end for a facility of $4.0m enabling it to borrow up to 85% of the US
debtor book.
The bank loan, with a current carrying value of £217k, relates to an asset-based loan for plant and equipment at our facility
in Sedgefield.
Banking facilities
Share capit
Operational highlights
• Secured a development contract with a major
OEM to design and supply Massive MIMO
antennas, a key product in network densification
using techniques that will form the basis of 5G
systems.
• Second major contract win secured in the year
for our Tier 1 European defence customer.
The contract, valued at £4.8m, is to be supplied
over three years. Production rates reached full
contractual requirements by the close of the year.
• Another year of strong demand for filter products,
with the main growth driven by our customer in
public safety, the largest OEM supplier in the public
safety communications market.
• Approved as a vendor by a major US mobile
network operator to supply 5G Evolution antennas
and recently qualified by a major MNO in EMEA for
another of our antenna products.
• Selected by a leading OEM to supply Orpheus
E-band transceivers into their new E-band backhaul
radio.
• Reorganisation of the business to capitalise on
opportunities in 5G as we leverage our
operational and engineering capabilities
Operational highlights
• Secured a development contract with a major
OEM to design and supply Massive MIMO
antennas, a key product in network densification
using techniques that will form the basis of 5G
systems.
• Second major contract win secured in the year
for our Tier 1 European defence customer.
The contract, valued at £4.8m, is to be supplied
over three years. Production rates reached full
contractual requirements by the close of the year.
• Another year of strong demand for filter products,
with the main growth driven by our customer in
public safety, the largest OEM supplier in the public
safety communications market.
• Approved as a vendor by a major US mobile
network operator to supply 5G Evolution antennas
and recently qualified by a major MNO in EMEA for
another of our antenna products.
• Selected by a leading OEM to supply Orpheus
E-band transceivers into their new E-band backhaul
radio.
• Reorganisation of the business to capitalise on
opportunities in 5G as we leverage our
operational and engineering capabilities
The year under review saw steady progress as we further
developed our strategy of broadening our customer base and
the markets we serve. Although sales revenue reduced, a
good sales mix along with the initial fulfilment of the previously
announced defence contracts enabled gross margins to
improve, with the result that operating profitability was
marginally higher than in the comparative period.
The reduction in sales resulted from a combined impact
of lower than expected demand for our customer-specific
integrated ultra wide band antennas and delays in the
production ramp of our new defence contracts that did not
achieve full production capacity until the final quarter of the
year. In the second half of the year, we also saw a softening
of demand for legacy filter products as some of these
programme roll-outs naturally concluded.
We are, however, very pleased with the progress made
through the year in developing, refining and executing our
strategies to prepare the business for 5G deployment and
to increase our participation in markets other than mobile
telecommunications infrastructure. We were particularly
pleased to announce the award of a development contract
for Massive MIMO (“mMIMO”) antennas from Nokia. This is
strategically significant as mMIMO is a fundamental technique
that will be used in the development and deployment of 5G
systems. The mMIMO antenna is complex, but we have been
able to leverage our prior IP to accelerate the development
phase and we anticipate that, having recently received initial
orders, production will commence in the first half of FY2019.